Archived News -- May 2004

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May 23, 2004

On May 23, the NY Post printed nine letters to the editor supporting the World Trade Center Phoenix plan by Ken Gardner and Herbert Belton and calling for the Twin Towers to be rebuilt.

NY Post Opinion Letters: "Scrap Liebskind's Plan and Rebuild the Towers"



May 20, 2004

On May 20, the NY Post printed several letters to the editor supporting the World Trade Center Phoenix plan by Ken Gardner and Herbert Belton.

NY Post Opinion Letters: "Reclaiming NY's Skyline"



May 19, 2004

On May 19, the NY Daily News profiled the World Trade Center Phoenix plan in its Business section. "New twin towers would be powerful symbols of defiance against terrorism, supporters argue - and stronger draws for big tenants than the Freedom Tower design....With signed twin tower leases in hand, Silverstein could get construction financing, said [Jonathan] Hakala, a venture capitalist whose firm was on the 77th floor of 1 World Trade Center."

NY Daily News: "Big Push to Rebuild Towers," by Lore Croghan



May 18, 2004

On May 18, the NY Post ran a column by Nicole Gelinas which profiled the plan -- WTC Phoenix -- by Ken Gardner and Herbert Belton to rebuild the Twin Towers. "To watch the steel structures of new Twin Towers pierce New York's skyline floor-by-floor - after all New York has been through - would be to experience one of the greatest moments in modern history. But Pataki and his Freedom Tower would rob New York - and America - of that moment," Gelinas wrote.

NY Post Opinion Columns: "World Trade Sellouts," by Nicole Gelinas



May 13, 2004

On May 13, NY Newsdsay reported that the Port Authority of NY and NJ has demanded details from Silverstein Properties, Inc. on how they intend to finance the rebuilding of the WTC site.

NY Newsday: "WTC Site Owner Wants the Lowdown," by Amy Westfeldt



May 12, 2004

On May 12, the NY Post published three letters to the editor calling for the Libeskind/Childs plan to be scrapped and the Twin Towers to be rebuilt.

NY Post Opinion Letters: "The Right Course for Lower Manhattan"



May 11, 2004

On May 11, the NY Daily News published a column by Richard Schwartz lambasting the collosal waste of funds related to rebuilding the WTC site.

"What happened to those grand post-9/11 pledges to rebuild lower Manhattan? New Yorkers weren't told the pledges were contingent on winning a shaky court case against 24 insurers. Nor were we told that the Port Authority would take hundreds of millions off the top of the reconstruction fund to pay debts on its other facilities. Or that New Jersey would exact $2 billion for a purposelessly palatial train station," Schwartz wrote.

"New York was promised - by President Bush and by Gov. Pataki - that downtown would be rebuilt. In most people's eyes that meant, first and foremost, replacing the twin towers. A new plan emerged with not just two buildings, but five. The city embraced it, only to now find that just one lonely spire is sure to be built. The other four will have to wait. And while they may never be built, they will, in their theoretical form, continue to pay their rents to the Port Authority."

NY Daily News: "Downtown Funds go Pffft," by Richard Schwartz



May 9, 2004

On May 9, the NY Post published an editorial emphasizing the importance of rebuilding the WTC site contrary to the interests of midtown landlords and those who do not want further commercial space downtown.

The editorial board wrote, "New Yorkers - indeed, all Americans - should regret that the rebuilding hasn't moved faster, and that the idea of restoring what was destroyed, exactly or almost exactly as it was, never got far."

NY Post Opinion Editorials: "Rebuild We (Sitll) Must"



May 5, 2004

On May 5, several news organizations reported reported that NYS Governor Pataki plans to break ground for "Freedom Tower" on July 4, 2004. Jonathan Hakala, Spokesperson, Team Twin Towers, Inc. was quoted in NY Newsday.

"Critics suggested Wednesday that the July 4 groundbreaking is in part driven by political promises and emotion, not the practical decision-making that goes into the building of massive office towers."

"Jonathan Hakala, a spokesperson for Team Twin Towers, a group working to restore the trade center site along with the Twin Towers, said starting the building without tenants is not prudent. He suggested the site needs alternative options. 'The market has spoken,' he said. 'We need to try something else.'"

NY Newsday: "Freedom Tower Groundbreaking set for July 4th," by Errol A. Cockfield, Jr.

On May 5, a Reuters article which appeared in CNN Finance quoted Larry Silverstein as saying, "It's going to take a feat of financial engineering," to build the proposed WTC site.

Reuters: "WTC developer faces financial challenge: Silverstein says projects will take a 'feat of financial engineering' after court slashes funds,"

On May 5, the NY Times reported on the progress of 7 WTC, which now stands at 314 feet. It will stand 750 feet and 52 stories when complete. 7 WTC was the last building to collapse on 9/11 and will be the first to be rebuilt. A Consolidated Edison substation will be housed in the building, which currently has no tenants.

NY Times: "Rising Above Ground Zero, Tower Slowly Takes Shape," by David W. Dunlap



May 3, 2004

On May 3, the NY Times reported that Silverstein lost his double insurance settlement case against Swiss Re, now limiting his total potential payout to $4.5 billion if he wins against his remaining insurers. In 93% of his insurance coverage, Silverstein is entitled to a single settlement.

NY Times: "US Jury Limits Payout of Trade Center's Biggest Insurer," by Charles V. Bagli